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XPO Logistics Reports Record Q4 Revenue
Transportation powerhouse XPO Logistics (NYSE: XPO) reported record fourth-quarter revenue of $4.19 billion, led by growth in its freight brokerage, last-mile delivery and contract logistics businesses.
The most recent quarterly revenue figure was 14.1% ahead of the previous year’s fourth quarter, when revenue totaled $3.68 billion.
Net income for the most recent quarter totaled $204.5 million or $1.42 per share. That was up from $29.8 million or 22 cents per share in the 2016 fourth quarter.
The jump in net income was due largely to lower interest expenses and a $147.9 million tax benefit.
"I'm pleased that we beat fourth quarter expectations for revenue, EPS, adjusted EBITDA, cash flow from operations and free cash flow,” said Bradley Jacobs, chairman and CEO. “We generated outsized organic revenue growth of 10.4%, led by gains in freight brokerage, last mile and contract logistics. A strong holiday peak played directly to our strengths in e-commerce.”
He pointed out that freight brokerage revenue was up 33% and operating income was up 44% in the company’s North American less-than-truckload unit.
For the 2017 calendar year, total revenue rose 5.2% to $15.38 billion. Net income totaled $340.2 million or $2.45 per share. That was up from $69 million or 53 cents per share in 2016.